Single Mean Estimation

Estimate a single population mean (μ) with a specified precision (margin of error) and confidence.

Formula Used (Sample Size, n):

$$n = \frac{Z_{1-\alpha/2}^2 \cdot \sigma^2}{E^2}$$

Where E is the margin of error, σ is the standard deviation, and Z_1-α/2 is the Z-score for the desired confidence.

1. Estimated Standard Deviation (σ):

Expected variability in the population.

2. Margin of Error (E):

Maximum acceptable difference between sample mean and true mean.

3. Confidence Level (1-α):

Probability that the confidence interval contains the true mean.

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